Is it better to sell a house or lose it in foreclosure?

In most cases it is better for you to sell your home rather than lose it in foreclosure proceedings. Your primary objective should be paying off the debt that you owe, which means that an ideal offer will leave you with enough money to pay off the remainder of the mortgage. In cases of serious hardship, it may be possible to engage in a “short sale”, wherein you sell the house for less than you owe and the lender forgoes the remaining balance.

If you would like to learn more about foreclosure, call the experienced Houston bankruptcy attorneys at the Russell Van Beustring P.C. today at 713-973-6650.